Money

By Ramishah Maruf, CNN New York (CNN) — Gaston Glock, the inventor of the ubiquitous gun bearing his name, died on Wednesday. He was 94. The Glock company announced his death on its website, without giving a cause or other details. The Glock is universal in mainstream culture, from use in over 65% of US

By Matt Egan, CNN New York (CNN) — Gas prices will fall in 2024 for the second year in a row, according to GasBuddy projections shared exclusively with CNN. GasBuddy, which had a forecast for 2023 that proved to be eerily accurate, expects US gas prices will average $3.38 a gallon in the key election

By Elisabeth Buchwald, CNN New York (CNN) — For most people, passive income is a bit of extra pocket change that requires minimal effort to earn to supplement a main source of income. For Steve Ballmer, it’s $1 billion. Ballmer, the sixth richest person in the world, is due to collect that much in dividends

By Brian Fung, CNN Washington (CNN) — Apple will immediately return to selling its most advanced Apple Watch models in stores, after a federal appeals court temporarily blocked a sweeping import ban on its latest smartwatches while a patent dispute winds its way through the legal system. Apple will also once again offer the affected watches for

By Hanna Ziady, CNN London (CNN) — Some major shipping companies continue to steer clear of the Red Sea, even as others return following a new US-led security operation to safeguard the area — highlighting how fragile the situation remains in one of the world’s trade arteries. Hapag-Lloyd and Evergreen Line, the container shipping arm of

By Brammhi Balarajan and Sarah Engel, CNN (CNN) — The Powerball jackpot has grown to $700 million for Wednesday night’s drawing. The numbers drawn Wednesday were 4, 11, 38, 51, 68 and Powerball 5. Sales officials increased the jackpot Wednesday by about $15 million due to strong ticket sales. The top prize now carries a

By Clare Duffy and David Goldman, CNN New York (CNN) — The New York Times has sued OpenAI and Microsoft for copyright infringement, alleging that the companies’ artificial intelligence technology illegally copied millions of Times articles to train ChatGPT and other services to provide people with instant access to information — technology that now competes

By Ramishah Maruf, CNN New York (CNN) — The Lauder Business School in Vienna, Austria, has severed ties with Harvard University “in solidarity with the Jewish student community,” according to a statement from the institution. “Since 2014, Lauder Business School has proudly been an affiliate of Professor Michael Porter’s Microeconomics of Competitiveness Network at Harvard

By Anna Bahney, CNN Washington, DC (CNN) — This has been a year of superlatives in residential real estate — and not in a good way. Mortgage rates reached 23-year highs, sales sank to a 13-year low and prices hit their highest levels ever. That all combined to push affordability to its lowest point since

By Chris Isidore, CNN New York (CNN) — The longest US auto strike this century is over after a pretty clear win for the United Auto Workers union at all three unionized automakers. But don’t think the union is moving to repair relations between labor and management the way it has after past strikes. The

By Alicia Wallace, CNN Eagan, Minnesota (CNN) — The winter holidays typically make for busier times at The Open Door Pantry food shelf here in this Twin Cities suburb. And sure enough, on the Monday before Christmas, the day’s food appointments were chock-full. In the back warehouse, nearly 100 volunteers quickly and methodically sifted through

By Ramishah Maruf, CNN New York (CNN) — After an unfavorable US International Trade Commission ruling, Apple is no longer selling its Apple Watch Series 9 and Apple Watch Ultra 2 in the United States because of a patent dispute. The ITC banned Apple from importing the affected watches into the US, and American Apple

By Michelle Toh, Hanako Montgomery and Francesca Annio, CNN Hong Kong/Tokyo (CNN) — Daihatsu, the Japanese automaker owned by Toyota, has halted domestic production after admitting it forged the results of safety tests for its vehicles for more than 30 years. The brand, best known for manufacturing small passenger cars, has stopped output at all

CNN, CNN BUSINESS By Nathaniel Meyersohn, CNN New York (CNN) — If you’re thinking of sending back a disappointing gift you just received over the holidays, the return may bring even more disappointment. Americans have grown accustomed to free returns, but a growing number of retailers are charging fees as returns squeeze retailers’ bottom lines.

By Nathaniel Meyersohn, CNN New York (CNN) — If you’re thinking of sending back a disappointing gift you just received over the holidays, the return may bring even more disappointment. Americans have grown accustomed to free returns, but a growing number of retailers are charging fees as returns squeeze retailers’ bottom lines. Macy’s, Abercrombie, J.

By Anna Bahney, CNN Washington, DC (CNN) — US home prices continued to rise in October, hitting a new record high and marking the ninth-consecutive month of increases, according to data released Tuesday. Together with soaring mortgage rates that month, rising home prices have made this the least affordable housing market in a generation. Even

Analysis by Samantha Murphy Kelly, CNN New York (CNN) — It was the year of artificial intelligence, and no Big Tech company leaned into the trend like Microsoft. In 2023, the company’s CEO Satya Nadella made a multi-billion dollar investment in AI, commercialized and added AI tools like ChatGPT into its suite of products before

By Bryan Mena, CNN Washington (CNN) — Taylor Swift didn’t have to run a major company or helm a central bank to wield some immense economic power this year. The pop superstar reigned supreme in 2023 not just as a musical artist, but also as a businessperson: Her career-defining “Eras” tour sold out stadiums across

By David Goldman and Clare Duffy, CNN New York (CNN) — The clock has wound down on the newest Apple Watch after the White House declined to issue a last-minute, emergency action to keep the best-selling smartwatch on store shelves. The Biden White House had until the end of Christmas day to overturn a US International Trade

By Paradise Afshar, CNN (CNN) — The Powerball jackpot climbed to an estimated $685 million after no ticket matched all six numbers to nab the grand prize during Monday night’s Christmas drawing. The top prize up for grabs during the next drawing on Wednesday has a lump-sum option of an estimated $344.7 million, according to